Analysts Anticipate Virgin Galactic Holdings, Inc. (NYSE:SPCE) to Post -$0.35 EPS

Brokerages expect Virgin Galactic Holdings, Inc. (NYSE:SPCE – Get Rating) to report earnings of ($0.35) per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Virgin Galactic’s earnings. The lowest EPS estimate is ($0.36) and the highest is ($0.35). Virgin Galactic reported earnings of ($0.39) per share during the same quarter last year, which would indicate a positive year over year growth rate of 10.3%. The company is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Virgin Galactic will report full-year earnings of ($1.32) per share for the current fiscal year, with EPS estimates ranging from ($1.39) to ($1.10). For the next year, analysts forecast that the company will post earnings of ($0.95) per share, with EPS estimates ranging from ($1.17) to ($0.70). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Virgin Galactic.

Virgin Galactic (NYSE:SPCE – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The business had revenue of $0.32 million for the quarter, compared to analysts’ expectations of $0.11 million. Virgin Galactic had a negative net margin of 8,758.29% and a negative return on equity of 41.08%. Virgin Galactic’s revenue for the quarter was up 3090.0% compared to the same quarter last year. During the same period last year, the company earned ($0.55) earnings per share.

SPCE has been the subject of several analyst reports. Morgan Stanley reduced their target price on shares of Virgin Galactic from $16.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, February 28th. Truist Financial downgraded Virgin Galactic from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $24.00 to $8.00 in a research note on Monday. Canaccord Genuity Group downgraded Virgin Galactic from a “buy” rating to a “hold” rating and lowered their target price for the company from $36.00 to $8.00 in a research report on Friday. Susquehanna reduced their price target on shares of Virgin Galactic from $22.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, February 24th. Finally, Susquehanna Bancshares lowered their price objective on shares of Virgin Galactic from $22.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, February 24th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Virgin Galactic has an average rating of “Hold” and an average price target of $17.27.

Shares of SPCE traded down $0.25 on Tuesday, reaching $5.82. The stock had a trading volume of 648,417 shares, compared to its average volume of 18,225,836. Virgin Galactic has a 12-month low of $6.06 and a 12-month high of $57.51. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -4.21 and a beta of 0.54. The company has a 50-day simple moving average of $8.59 and a 200-day simple moving average of $11.72.

Several institutional investors and hedge funds have recently modified their holdings of SPCE. Oak Thistle LLC purchased a new position in Virgin Galactic in the 1st quarter worth about $353,000. Swiss National Bank increased its position in shares of Virgin Galactic by 7.8% during the first quarter. Swiss National Bank now owns 457,500 shares of the company’s stock worth $4,520,000 after acquiring an additional 33,000 shares during the period. Csenge Advisory Group bought a new stake in shares of Virgin Galactic during the first quarter valued at approximately $108,000. Teacher Retirement System of Texas raised its stake in shares of Virgin Galactic by 4.8% during the first quarter. Teacher Retirement System of Texas now owns 39,674 shares of the company’s stock valued at $392,000 after acquiring an additional 1,802 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of Virgin Galactic in the first quarter valued at approximately $127,000. 29.70% of the stock is owned by hedge funds and other institutional investors.

Virgin Galactic Company Profile (Get Rating)

Virgin Galactic Holdings, Inc focuses on the development, manufacture, and operation of spaceships and related technologies for conducting commercial human spaceflight and flying commercial research and development payloads into space. It is also involved in the ground and flight testing, and post-flight maintenance of its spaceflight system vehicles.

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